Gevo, Inc. (NASDAQ: GEVO), a leading renewable chemicals and next-generation biofuels company, announced today that it intends to offer and sell, subject to market and other conditions, shares of its common stock and convertible senior notes due 2022. All of the shares in the common stock offering and convertible senior notes are to be sold by Gevo.
Neither the completion of the common stock offering nor the convertible senior notes offering will be contingent on the completion of the other.
Gevo expects to use the net proceeds from the offerings to repay a portion of its outstanding long- term debt obligations, to fund the cash consideration payable to complete the retrofit of its Luverne, Minn. plant, and to partially fund the Redfield Energy retrofit. To the extent that the net proceeds are not used for these purposes, the Company intends to use them to fund working capital and for other general corporate purposes.
In connection with the offerings, UBS Securities LLC and Piper Jaffray & Co. are acting as joint book- running managers. Robert W. Baird is serving as co-manager for the common stock offering.A shelf registration statement relating to the shares of common stock and convertible notes to be issued in the proposed offerings was filed with the Securities and Exchange Commission (SEC) and is effective. Information about the offerings is available in the preliminary prospectus supplements to be filed with the SEC. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there by any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted. Copies of the preliminary prospectus supplements and accompanying prospectuses may be obtained, when available, from UBS Securities LLC at 299 Park Avenue, New York, NY 10171, Attention: Prospectus Department, or by calling (888) 827-7275, or from Piper Jaffray & Co. at 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, Attention: Prospectus Department, by calling (800) 747-3924 or by emailing email@example.com. About Gevo Gevo is converting existing ethanol plants into biorefineries to make renewable building block products for the chemical and fuel industries. The Company plans to convert renewable raw materials into isobutanol and renewable hydrocarbons that can be directly integrated on a “drop in” basis into existing chemical and fuel products to deliver environmental and economic benefits. Gevo is committed to a sustainable biobased economy that meets society’s needs for plentiful food and clean air and water. For more information, visit www.gevo.com Forward-Looking Statements Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements relate to a variety of matters, including, without limitation, the Company's expectations regarding the sale of shares of its common stock and convertible notes in the proposed public offerings, use of the proceeds from the proposed offerings and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise.